Chevron Corporation $CVX Shares Sold by Advisors Management Group Inc. ADV

Advisors Management Group Inc. ADV lessened its holdings in shares of Chevron Corporation (NYSE:CVX) by 16.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 31,396 shares of the oil and gas company’s stock after selling 5,984 shares during the quarter. Chevron makes up 1.2% of Advisors Management Group Inc. ADV’s portfolio, making the stock its 22nd largest holding. Advisors Management Group Inc. ADV’s holdings in Chevron were worth $6,495,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in Chevron by 9.1% in the 3rd quarter. State Street Corp now owns 152,605,988 shares of the oil and gas company’s stock valued at $23,698,184,000 after acquiring an additional 12,789,399 shares during the period. Berkshire Hathaway Inc boosted its holdings in shares of Chevron by 6.6% in the fourth quarter. Berkshire Hathaway Inc now owns 130,156,362 shares of the oil and gas company’s stock valued at $19,837,131,000 after acquiring an additional 8,091,570 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Chevron by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 43,613,011 shares of the oil and gas company’s stock valued at $6,620,187,000 after acquiring an additional 134,890 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Chevron by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,036,844 shares of the oil and gas company’s stock worth $5,492,377,000 after purchasing an additional 961,341 shares in the last quarter. Finally, Norges Bank bought a new stake in Chevron during the fourth quarter worth approximately $3,727,586,000. Institutional investors own 72.42% of the company’s stock.

Chevron Trading Up 1.3%

Shares of NYSE:CVX opened at $176.29 on Friday. The stock has a market capitalization of $351.10 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 0.59 and a beta of 0.50. Chevron Corporation has a 1-year low of $146.49 and a 1-year high of $214.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.84 and a current ratio of 1.09. The company has a 50 day moving average price of $181.92 and a 200 day moving average price of $181.29.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a return on equity of 6.90% and a net margin of 5.79%.The company had revenue of $47.56 billion for the quarter, compared to analysts’ expectations of $51.86 billion. During the same quarter in the prior year, the company earned $2.18 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Chevron Corporation will post 15.28 EPS for the current fiscal year.

Chevron Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 19th were issued a $1.78 dividend. This represents a $7.12 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is presently 123.40%.

Insider Activity

In other news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares of the company’s stock, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CVX shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $216.00 price target on shares of Chevron in a research note on Friday. BNP Paribas Exane raised Chevron from a “neutral” rating to an “outperform” rating and set a $174.00 price objective on the stock in a research note on Friday, April 17th. Weiss Ratings lowered Chevron from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $216.00 target price on shares of Chevron in a research note on Wednesday, May 6th. Finally, Zacks Research lowered Chevron from a “strong-buy” rating to a “hold” rating in a report on Monday, June 8th. Nineteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Chevron has a consensus rating of “Moderate Buy” and an average target price of $206.83.

Key Chevron News

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Rising Middle East tensions are pushing crude higher, which can improve Chevron’s upstream profits and make the stock look more attractive as a geopolitical hedge. With Iran Tensions Heating Up Again, Chevron Stock Looks Enticing
• Positive Sentiment: Bullish commentary from Bank of America and other analysts suggests Chevron is well positioned to benefit if Iran-related supply disruptions keep oil prices elevated. CVX Stock Has A New Bull Case
• Positive Sentiment: Chevron announced a five-year gas supply deal with Australia’s Alinta Energy, adding a stable long-term sales stream and reinforcing its gas business. Chevron Australia signs five-year gas supply agreement with Alinta Energy
• Positive Sentiment: Chevron also expanded its technology/licensing efforts and its Microsoft power partnership, which could support long-term growth beyond oil and gas pricing. Can Chevron’s Microsoft Partnership Power the Next Leg of Growth?
• Neutral Sentiment: UBS reiterated a Buy rating, which may help sentiment but does not by itself change Chevron’s fundamentals. UBS Keeps Their Buy Rating on Chevron (CVX)
• Negative Sentiment: New U.S. Russia sanctions proposals could tighten global energy trade flows and add policy uncertainty, even if they may also support oil prices. Bipartisan Senators Reach Agreement With Trump Administration to Advance New Russia Sanctions Bill

About Chevron

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.